Gujarat’s Evolving Landscape
Gujarat stands as a stronghold in India’s coriander trade, renowned for its vibrant spice markets and rich agricultural traditions. As predictions emerge, the state expects an upward shift of USD 4,81 to 6,00 per 100 kg in coriander prices within the next six weeks. The average price in Gujarat is approximately $0,63 per kg. According to Amit Bhojani’s projections, this shift is influenced by multiple factors. Interestingly, while Gujarat’s daily income from coriander has seen a surge, the international market throws in a twist. Russian coriander, with its lower price point, has started to dominate the global market. This new competitive player has curbed the demand for Gujarat’s exports, making the future of its coriander market a hot topic of discussion among traders and stockists.
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The Southern Shift
The coriander market in South India, with its unique culinary traditions and demands, has always been a significant player. Traditionally, this region heavily leaned on Gujarat for its supply. Recent times, however, showcase a shift. The supply dynamics are changing, with other Indian states like Rajasthan, Madhya Pradesh, and Maharashtra becoming notable contributors. But there’s another factor in play: the rise of imported coriander. This new addition to South India’s spice bazaars means that Gujarat’s long-standing dominance is now being tested. The intricate web of supply chains, prices, and transportation costs makes this an evolving and exciting space to watch.
The Challenges in Madhya Pradesh
In Madhya Pradesh, several factors from environmental to economic, are challenging the state’s coriander industry. Unpredictable weather patterns marked by heatwaves and inconsistent rainfall have adversely impacted crop quality and overall yield. Such environmental stresses have prompted farmers to look beyond coriander. With the looming threat of water scarcity, many are opting for alternative crops that promise better returns. Yet, amid these challenges, there’s a silver lining. Market expert Brijesh Garg anticipates a substantial rise in prices, projecting an increase of USD 12 per 100 kg by December and a subsequent hike in February.
Global Interests and the Road Ahead
The world of spices is vast, with India’s coriander playing a pivotal role on the global stage. Several countries, most notably Iran and Saudi Arabia, exhibit a robust demand for Indian coriander. These nations, along with others, are currently importing at prices ranging from USD 930 – 940 per ton. Meanwhile, Russia’s decision to hike export duties on agricultural commodities, including coriander, may deter international buyers and make Indian coriander more attractive. With sowing delays expected in India and strategic stockpiling by international buyers, the road ahead promises twists and turns in the global coriander marketplace.
India’s coriander market, with its rich history and significance, stands at a crossroads. The dynamic shifts in the market underscore its resilience and adaptability in a rapidly evolving global landscape.
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